China Tells Steel Mills to Hold Off on Buying Rio Tinto’s Ore
Macro·1 article across 1 outlet
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China’s state-backed iron ore buyer has told some steel mills to hold off on purchases of Rio Tinto Group’s Pilbara Blend, as contract talks with the Australian miner reach a critical point.
This directive comes as negotiations between the steel mills and Rio Tinto intensify, indicating a significant moment in the ongoing discussions regarding iron ore procurement.
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“China’s state-backed iron ore buyer has told some steel mills to hold off on purchases of Rio Tinto Group’s Pilbara Blend, as contract talks with the Australian miner reach a critical point,”
Bloomberg — China Tells Steel Mills to Hold Off on Buying Rio Tinto’s Ore